Discrimination favoring management or highly paid employees is not permitted for deductible health and accident insurance plans. For self-insured medical reimbursement plans (i.e., direct payment or reimbursement by the employer of the medical bills of the employee or family), no discrimination, either in eligibility or benefits, is permitted if "highly compensated individuals" are to receive all plan benefits tax-free. The plan must benefit, in general, at least 70% of employees who are not highly compensated employees. However, there are exceptions. A "highly compensated employee" is one who has a significant ownership interest in the company, or who is one of the five highest paid officers or employees. An alternative designation is an income threshold, currently $80,000. If a self-insured plan is discriminatory, an employee who is considered a highly compensated employee must include the amount of discriminatory benefits received in gross income.
Phoenix Arizona Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees A corporate resolution is a legal document that outlines an agreement made by a corporation's board of directors or shareholders. In the case of Phoenix, Arizona, many corporations opt to establish a self-insured medical payment plan for their key employees. This plan is designed to provide comprehensive healthcare coverage for selected individuals within the organization. A self-insured medical payment plan allows a company to assume the role of the insurance provider, rather than engaging a third-party insurance company. By doing so, corporations in Phoenix, Arizona, can have more control over the healthcare benefits provided to their key employees. This frequently leads to customized and tailored coverage that meets the specific needs of the organization. Companies that opt for a self-insured medical payment plan for key employees in Phoenix, Arizona, typically have the flexibility to design the plan in a manner that aligns with their corporate values, budget, and employee requirements. By directly managing the plan, corporations can adjust coverage levels, design cost-sharing mechanisms, and introduce wellness programs seamlessly. Key employees, also known as essential personnel or top management, usually play vital roles in an organization's success. These individuals are critical to the company's operations, decision-making, and long-term growth. Hence, offering them a self-insured medical payment plan demonstrates a commitment to their well-being and helps attract and retain top talent in Phoenix, Arizona. Different types of self-insured medical payment plans for key employees in Phoenix, Arizona, may include: 1. Basic Medical Payment Plan for Key Employees: This plan is designed to cover essential medical services, including hospital stays, doctor visits, prescription medications, and preventive care. It ensures that key employees have reliable health coverage to address their medical needs promptly. 2. Enhanced Medical Payment Plan for Key Employees: This plan builds upon the Basic Medical Payment Plan and includes additional benefits such as vision and dental coverage, mental health services, alternative therapies, and more extensive prescription coverage. 3. High-Deductible Medical Payment Plan for Key Employees: Some corporations in Phoenix, Arizona, may opt for a high-deductible plan, primarily aiming to keep premiums low. This plan requires key employees to pay a higher deductible out-of-pocket before the insurance coverage kicks in. However, companies often couple this plan with a Health Savings Account (HSA) to mitigate the financial burden on employees. 4. Executive Medical Payment Plan for Key Employees: Designed specifically for top-level executives, this plan provides comprehensive coverage for a wide range of medical services. It may include exclusive benefits such as executive health check-ups, access to renowned specialists, concierge medical services, and international medical coverage. In conclusion, a Phoenix Arizona Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees encompasses the decision of a corporation to assume the role of an insurance provider for selected employees. By offering customized healthcare coverage, companies can demonstrate their commitment to employee well-being while retaining top talent in the competitive Phoenix job market.Phoenix Arizona Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees A corporate resolution is a legal document that outlines an agreement made by a corporation's board of directors or shareholders. In the case of Phoenix, Arizona, many corporations opt to establish a self-insured medical payment plan for their key employees. This plan is designed to provide comprehensive healthcare coverage for selected individuals within the organization. A self-insured medical payment plan allows a company to assume the role of the insurance provider, rather than engaging a third-party insurance company. By doing so, corporations in Phoenix, Arizona, can have more control over the healthcare benefits provided to their key employees. This frequently leads to customized and tailored coverage that meets the specific needs of the organization. Companies that opt for a self-insured medical payment plan for key employees in Phoenix, Arizona, typically have the flexibility to design the plan in a manner that aligns with their corporate values, budget, and employee requirements. By directly managing the plan, corporations can adjust coverage levels, design cost-sharing mechanisms, and introduce wellness programs seamlessly. Key employees, also known as essential personnel or top management, usually play vital roles in an organization's success. These individuals are critical to the company's operations, decision-making, and long-term growth. Hence, offering them a self-insured medical payment plan demonstrates a commitment to their well-being and helps attract and retain top talent in Phoenix, Arizona. Different types of self-insured medical payment plans for key employees in Phoenix, Arizona, may include: 1. Basic Medical Payment Plan for Key Employees: This plan is designed to cover essential medical services, including hospital stays, doctor visits, prescription medications, and preventive care. It ensures that key employees have reliable health coverage to address their medical needs promptly. 2. Enhanced Medical Payment Plan for Key Employees: This plan builds upon the Basic Medical Payment Plan and includes additional benefits such as vision and dental coverage, mental health services, alternative therapies, and more extensive prescription coverage. 3. High-Deductible Medical Payment Plan for Key Employees: Some corporations in Phoenix, Arizona, may opt for a high-deductible plan, primarily aiming to keep premiums low. This plan requires key employees to pay a higher deductible out-of-pocket before the insurance coverage kicks in. However, companies often couple this plan with a Health Savings Account (HSA) to mitigate the financial burden on employees. 4. Executive Medical Payment Plan for Key Employees: Designed specifically for top-level executives, this plan provides comprehensive coverage for a wide range of medical services. It may include exclusive benefits such as executive health check-ups, access to renowned specialists, concierge medical services, and international medical coverage. In conclusion, a Phoenix Arizona Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees encompasses the decision of a corporation to assume the role of an insurance provider for selected employees. By offering customized healthcare coverage, companies can demonstrate their commitment to employee well-being while retaining top talent in the competitive Phoenix job market.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
